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On October 22, 2012 the U.S. Government and Government of Panama announced that the U.S. – Panama Trade Promotion Authority (often referred to as the Free Trade Agreement, or FTA) – will go into effect on October 31, 2012.
Tariffs will drop to 0% for U.S. Exports to Panama. Panama’s tariffs are already relatively low – an average of 7% for industrial goods, around 15% for agricultural products. And U.S. products and services are already very competitive, with some 30% market share of Panama’s imports. But once the FTA is implemented, 87% of tariffs drop to 0%.
Monday October 22, 2012/ Export.gov/ United Startes.
http://export.gov/
